JUST IN: Forex: CBN lifts ban on 41 items

The Central Bank of Nigeria (CBN) has lifted the restriction on 41 items listed as ineligible for foreign exchange, with a condition.

“Importers of items classified as not valid for forex with transactions value of $20,000 and below per quarter shall now qualify for allocation of foreign exchange,” the bank said in a circular.

TheNewsGuru.com reports that the Central Bank of Nigeria (CBN) in July 2015, restricted 41 items, including vegetable oil, poultry products, toothpicks, cosmetics, plastic and rubber products, among others, from accessing foreign exchange from the interbank foreign exchange market.

Details later…